Permanent Differences in Unemployment and Permanent Wage Differentials
检验了基于地区和行业失业差异的工资溢价是否存在，将失业差异分解为永久和暂时成分，发现长期失业差异产生工资溢价，而短期冲击则导致工资调整。
This paper tests for the existence of wage premiums based on geographic and industry unemployment differences. These differences are broken down into permanent and transitory components in equations controlling for variation in state generosity of unemployment insurance benefits. Findings indicate that wage premiums arise for long-run unemployment differences, but that negative short-run shocks to industries generate wage cuts, while positive shocks generate wage hikes. Therefore, labor contracts accommodate long-term anticipated unemployment, and entail sharing of short-term unemployment risks.